EUROPE – ITE Group’s Premier Expo (PE) subsidiary has struck an agreement to acquire the exhibition assets of Ukraine-based organiser Limited Liability Company Autoexpo (Autoexpo).
Autoexpo’s portfolio encompasses 10 exhibitions including SIA, the Kyiv motor show, and several events in the travel, tourism, building, construction and oil and gas sectors. According to a company statement, the exhibitions generated US$3m and a pre-tax profit of $1m in 2011. Gross assets acquired by ITE are worth $50,000. The purchase price was not disclosed.
“The addition of this portfolio of exhibitions to ITE’s Ukranian business is consistent with out strategy of building market-leading positions in core markets and sectors and will complement PE’s existing activities,” ITE Group CEO Russell Taylor said. “These events have strong market positions in Ukraine and will benefit from access to ITE’s expertise and international customer base.”
Premier Expo’s existing pool of exhibitions in the Ukraine includes Intertool Kyiv, KyivBuild, KyivInteriors and the Ukraine International Travel and Tourism show.
ITE Group reported a 17 per cent year-on-year revenue rise in the fourth quarter, buoyed by growth across its Moscow International Motor Show.
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